Equity Monday: Byju's raises more money, somehow, as tech stocks fall
Oct 4, 2021
Tech stocks are taking a hit, with software companies facing significant losses. The Facebook whistleblower saga continues to dominate headlines. Meanwhile, Byju's successfully raised $300 million, setting a promising stage for its upcoming IPO. Apple's gaming profits are soaring, and new AI guidelines from China are making waves. The insurtech market remains lively with Ladder securing $100 million, showcasing resilience amid industry challenges. Stay tuned for insights on these trends and their broader implications!
08:10
forum Ask episode
web_stories AI Snips
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
insights INSIGHT
Tech Stock Correction
Tech stocks, especially software shares, are experiencing a significant downturn in the US markets.
This decline has reached correction territory, marking a 10% drop from recent highs.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here. I also tweet.
Sorry that the show is so delayed today, it's utterly my fault. Regular service returns Wednesday, and we'll make to not be late on a Monday again this year! Here's what we got into on the show:
Tech shares are falling in America in a larger domestic selloff -- but once again we're seeing high-valued technology stocks lose the most ground. Software companies are having a particularly rough morning.
The Facebook whistleblower situation remains the biggest news item in the technology world this morning, dominating aggregators and conversation. Precisely what comes next isn't clear, I reckon, but Facebook shares haven't lost enough ground yet to be a worry for the firm; that could change with another few days' declines, however.
Byju's raised $300 million, this time at an $18 billion valuation. Its upcoming IPO will help set the tone for global edtech valuations.
Ladder raised $100 million, proving that the insurtech market is still active. Sure, shares of public insurtech startups have taken a pounding in recent quarters, but there's still plenty of private capital ready to make bets on the market.
Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
Equity